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Monday, April 02, 2012

Just a few days into the crushing announcement that Canada will stop producing new cents I find one in my change. Now you will still be able to use Canadian cents in Canada but they will slowly start taking them back. Future value depends on how aggressive this penny recall is going to be. Granted about 35 billion were made so it may not raise the value by much but if a good accounting is done by the Royal Canadian Mint of coins returning and melted that may change.

This has to be the most telling part of the entire disappearing Canada penny stories. Via The Globe and Mail:

Ottawa is suggesting businesses round off cash transactions to the
nearest five-cent increment but says it’s leaving this to businesses to
work out for themselves.

This rounding off would occur after taxes
had been applied to the purchase and would not be necessary for credit
or debit transactions.

Seriously is there any faster way to get rid cash than cheating people out of 2-3 cents per transaction (they never round down for long). The poor, budgeters, and others who make many small transactions will feel this the most.

Hi thank you for your information I have some coins from Canada and I would like to know if have value 1 cent from 1944 Georgives ,1979,1981,2000 Elizabeth II.25 cents.2003,2007, Elizabeth II,and 1949 Georgives II also I have 1981 Two new pence,and 1990 Two pence I appreciate thank you

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